JPMorgan Chase & Co. (NYSE:JPM) Position Raised by Independence Bank of Kentucky

Independence Bank of Kentucky lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 25.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,017 shares of the financial services provider’s stock after purchasing an additional 9,054 shares during the quarter. JPMorgan Chase & Co. comprises 2.7% of Independence Bank of Kentucky’s portfolio, making the stock its 4th biggest holding. Independence Bank of Kentucky’s holdings in JPMorgan Chase & Co. were worth $9,017,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of JPM. Morgan Stanley raised its position in JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after purchasing an additional 201,441 shares during the period. Wellington Management Group LLP increased its stake in JPMorgan Chase & Co. by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after buying an additional 4,603,090 shares during the period. Capital International Investors raised its stake in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after acquiring an additional 2,128,478 shares in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $6,016,878,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of JPMorgan Chase & Co. by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after buying an additional 695,502 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.6 %

Shares of NYSE JPM opened at $205.45 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average of $196.91 and a 200 day moving average of $186.28. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $207.09. The stock has a market cap of $589.98 billion, a PE ratio of 12.41, a P/E/G ratio of 2.72 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 16.44 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a $1.15 dividend. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.24%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. StockNews.com downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Jefferies Financial Group upped their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. BMO Capital Markets lowered their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research report on Monday, April 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $194.10.

Insider Activity

In related news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the chief executive officer now owns 264,461 shares in the company, valued at approximately $48,708,426.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the transaction, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the transaction, the insider now directly owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The disclosure for this sale can be found here. Insiders have sold a total of 250,565 shares of company stock valued at $46,962,717 in the last quarter. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.